Toronto Housing Market – Spring Report

It’s been a long, cold wait but spring has finally arrived in Toronto. The weather is beginning to warm, the Maple Leafs and Raptors are both in the playoffs, and it’s a good time to reflect on how lucky we are to live and work in this wonderful city. Every year, it seems as if Toronto’s profile only grows nationally and globally.

Toronto’s Growing Population

Toronto’s job market is booming, propelling the economy and housing market and leading to a healthy uptick in population. According to Statistics Canada, the metropolitan area was home to more than 6.3 million people in 2017, up nearly 5% in only three years. New immigrants and people from across the country are flooding the city in search of jobs and opportunity. This number should only grow as the tech sector continues to thrive.

Newcomers are truly helping to make our city a more dynamic, vibrant place.

Toronto’s Job Market

According to the Financial Accountability Office of Ontario, the Greater Toronto Area added 69,700 jobs in 2017, significantly more than the rest of Ontario combined. And this was not a one-year blip. The GTA has added jobs every year this decade and accounts for approximately 20% of Canada’s GDP. It would be surprising to not see this trend continue in the coming years.

Toronto is a Great City

Toronto is a wonderful place to live, and it’s getting better all the time. All around the city, you will find exciting new restaurants, parks, entertainment, and property developments. Whole neighbourhoods are being developed or revitalized on a regular basis. The recent announcement that the city will be investing in the waterfront and that it will be home to Google’s smart neighbourhood project will only serve to make Toronto more open, connected and efficient.